Cnova N.V. has priced its shares at between $12.50 to $14.00 each, raising between $335 million and $375 million on an offering of 26.8 million shares. At the midpoint range, it would have a market capitalization of $5.8 billion.
A part of Groupe Casino, a French publicly-listed company, Cnova is one of the largest global e-commerce firms. With primary operations in France and Brazil, the company also has an e-commerce presence in Columbia, Ecuador, Thailand, and the Ivory Coast, according to a filing Friday with the Securities and Exchange Commission.
For the nine months ended September, the company posted $3 billion in sales, and a loss of $69 million. It had sales of $3.66 billion in 2013. It is expected to complete its IPO in a few days and will join the ranks of JD.com and Alibaba.com, all of which represent the top three firms doing over $3 billion in sales that have completed IPOs this year, trading on American exchanges.